Browse Financial Aid Articles

I have twin daughters going to college in the fall. The annual tab (for both girls) after scholarships will be $58,000 in loans per year for four years. We have saved $47,000 for the first year and anticipate being able to save about $12,000 per year to apply towards payments over the three remaining years. This leaves us looking for loans ...

Filling out financial aid forms is challenging and a task, to say the least. But don’t rush the process – any mistakes can cause serious delays in the process or, worse, disqualify you all together. Though these seem like common sense-covered areas, the following are errors that students frequently make when filling out financial aid forms. Before submitting any financial aid ...

After you submit your application for financial aid, you will receive a financial aid award letter from the college(s) to which you applied, typically in early to mid-April. This letter spells out the details of your financial aid package. A financial aid package is a collection of different types of financial aid from multiple sources. It is intended to help you ...

Fastweb partnered with Maguire Associates, a firm that specializes in market research, analysis and predictive modeling for colleges and universities, to evaluate the impact of the economy on college choices by high school seniors and their parents. Initial surveys were sent in February and March 2009 to identify the initial selection of colleges. Follow-up surveys were sent in May 2009 to ...

Parents of college students face added financial pressure. The federal Parent Loan for Undergraduate Students (PLUS) loan can alleviate some of that pressure. The PLUS is a loan for parents and family members to help cover the education costs for dependent college students. PLUS loans cover up to the total cost of undergraduate education not already covered by financial aid for ...

"I am a college sophomore and I pay for school myself. For the last two years, I have used my parents' tax information on the FAFSA. Since I pay for school myself without any help from my parents, should I list only my own tax information to be eligible for more aid?" This is a common question about the FAFSA: When ...

I am a single parent of three children. One is a junior in college, the middle child will be attending college next year. I have always completed the FAFSA for my oldest daughter, claiming her as my dependent. Her father and and I have split the cost of out-of-pocket expenses. This past year, however, her father took me back to court ...

Income-based Repayment Who: 1.6 million borrowers since 2008 with at least one loan in 2012 or later, generally borrowers whose total federal student loans exceeds their annual income What: Reduces cap on monthly loan payments by a third, from 15% of discretionary income to 10%, and forgives the remaining debt in 20 years instead of 25 When: Starts in 2012 ...

If she wanted to save money on tuition, Erin Patterson had to make some money quickly. As an out-of-state student at the University of Missouri-Columbia, Patterson needed to earn a certain amount on her W-2 in order to claim residency and thus lower her tuition bill. “I had no intention of becoming a resident of Missouri when I started college, but ...

A common scholarship myth is that millions of dollars go unclaimed each year, and it is exactly that: a myth. But there’s another way to save money that has gone untapped by thousands of students and their families, a source of help “hidden” in plain sight. It’s so hidden, students failed to take advantage of millions of dollars in benefits, according ...

No matter what type of loan you take out, it comes with its own interest rate. It can seem like a riddle when trying to keep track of your loans and payments. When it comes to loans, consolidation can be a great option. In consolidating your loans, it can become easier to handle because, essentially, your multiple loans will become one ...

You've calculated tuition costs, figured in room, board and books. You've even checked out scholarships and grants, filled out the FAFSA and budgeted for day-to-day expenses like groceries and laundry money. You've covered all your financial bases. Yet even with careful planning, you may encounter college costs that take you by surprise. These costs crop up in the form of "miscellaneous ...

Sallie Mae and Gallup just released the results of a survey of how American families save for college. The survey found that most parents are continuing to save for college despite the economy and that saving for college slightly trails saving for retirement. More than 9 in 10 of the parents (92%) think that it is likely or very likely that ...

A computer for college is essential but can add a hefty expense to your budget, so choose wisely. Consider these points when computer shopping: Desktop or Laptop? Laptops are more portable and since many campuses and public areas provide wireless Internet service, you won’t be limited to your dorm room to work. If your courses will involve travel or fieldwork, a ...

We asked FastWeb members whether they would consider staying in their home state after graduation if it meant they wouldn't have to pay back their student loans and here's what they had to say: "I definitely would stay in my home state for loan forgiveness. I have personally already been a college graduate for a year and see this as ...

Did you know that your children’s credit scores may be more important to their future than their academic transcripts? Or that 68 percent of high school and college students say they have never had a meaningful conversation with their parents about personal finances? What’s your reaction to an Indiana University administrator candidly admitting that they lose more students to credit cards ...

Last year my family had low income ($40,000) but high assets. The assets include $1 million in properties, other investments, the primary home, car, 401(k), IRA and pension plan. How are the assets counted for determining need-based financial aid? &mdash; S.S. Certain types of assets are not reported on the Free Application for Federal Student Aid (FAFSA). For example, the net ...

When you’re a student trying to pay for school, one of the greatest challenges can be managing your finances in the best way possible. With so many options out there, it’s difficult to decipher right from wrong and what will be best for you in the future. Following these guidelines will help you understand how to determine what’s best for you, ...

I have been divorced for more than 10 years and receive a small amount of child support from my ex-husband. At the time of the divorce, I agreed to let my him claim my daughter on his income tax return during the odd years. He does not cooperate with any other expenses, so the bulk falls on me. He is anxiously ...

You're about to have a baby and you're already worrying about how to pay for their college education. Or your son or daughter just started high school and you read about some private colleges costing more than $50,000 a year. How are you going to be able to afford four years of a college education? Don't panic! The solution is to ...